Pakistan cuts petrol and diesel prices

(Reuters) – Pakistan on Monday cut the prices of petrol and diesel owing to the decreasing trend of petroleum prices in the international market, the finance ministry said in a statement.

The price of petrol would drop by 40 Pakistani rupees ($0.144) to 283.38 rupees a litre effective October 16.

High-speed diesel cost would drop by 15 rupees to 303.18 rupees a litre.

($1 = 277.2000 Pakistani rupees)

(Reporting by Mrinmay Dey in Bengaluru; Editing by Andrew Cawthorne)